The 2022 bond dropped 9.2 cents to 35.8 cents while the 2027 issue tumbled 7.5 cents to 33.218 cents, according to Refinitiv data.

Argentina’s assets have been battered by fears the country may be heading for another default. Euro-denominated issues - many of them held by European-based institutional investors - have faced a steep selloff after a credit rating cut from Standard & Poor’s triggered automatic selling mechanisms at big German pension funds.